2024

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Ripple Labs initiated a $285 million share buyback, valuing the company at $11.3 billion, amid regulatory uncertainties.
On Jan. 10, Ripple Labs, a cryptocurrency company famous for XRP, <a href="https://www.reuters.com/technology/ripple-buy-back-285-million-its-shares-valuing-company-11-bln-sources-2024-01-10/" data-type="link" data-id="https://www.reuters.com/technology/ripple-buy-back-285-million-its-shares-valuing-company-11-bln-sources-2024-01-10/" target="_blank" rel="noopener noreferrer nofollow">announced</a> a buyback of $285 million in company shares from early investors and employees, valuing the firm at $11.3 billion. The tender offer allows investors to sell up to 6% of their stake.
Confirming the buyback, Ripple disclosed plans to allocate $500 million for the repurchase, covering the conversion of restricted stock units into shares and associated taxes.
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 Ripple to buy back $285 million of its shares, valuing company at $11 bln – sources <a href="https://t.co/qK0NXKYRLt" target="_blank" rel="noopener noreferrer nofollow">https://t.co/qK0NXKYRLt</a> <a href="https://t.co/maaeoF0TXN" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/maaeoF0TXN</a>— Reuters (@Reuters) <a href="https://twitter.com/Reuters/status/1745123522395951133?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 10, 2024</a>
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Ripple aims to conduct regular share buybacks to enhance liquidity for investors and has no immediate plans to go public in the U.S., citing regulatory uncertainties, as stated by CEO <a href="https://crypto.news/tag/brad-garlinghouse/" data-type="link" data-id="https://crypto.news/tag/brad-garlinghouse/" rel="noopener noreferrer nofollow">Brad Garlinghouse</a>. The company currently holds over $1 billion in cash and more than $25 billion in crypto, mainly XRP coins.
This move follows Ripple’s <a href="https://crypto.news/xrp-is-not-a-security-us-judge-rules/" data-type="link" data-id="https://crypto.news/xrp-is-not-a-security-us-judge-rules/" rel="noopener noreferrer nofollow">recent legal victory</a> against the U.S. Securities and Exchange Commission (SEC), where a U.S. District Judge ruled that XRP sales on public exchanges were not unregistered securities offerings.
Established in 2012, Ripple focuses on developing a payment system that facilitates cross-border transactions, promoting the use of XRP. Despite challenges posed by the SEC lawsuit, Garlinghouse noted that 95% of their customers are non-U.S. financial institutions.
As of Wednesday, <a href="https://crypto.news/price/xrp/" data-type="link" data-id="https://crypto.news/price/xrp/" rel="noopener noreferrer nofollow">XRP’s market cap</a> stands at $30 billion.
Read more: <a href="https://crypto.news/ripple-xrp-continues-bullish-momentum-analyst-predicts/" rel="noopener noreferrer nofollow"> XRP price to maintain bullish momentum, analyst predicts </a>

Ripple Labs plans to repurchase $285m stake in tender offer

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